$AUD/USD Short Term Elliott Wave Analysis 8.13.2015

Revised short term Elliottwave view suggests that decline to 0.723 ended wave (Y). Wave (X) bounce from this level is unfolding as a FLAT structure where wave A ended at 0.7439, wave B ended at 0.7214, and wave C is in progress as 5 waves towards 0.742 – 0.747 to complete wave (X). Once wave (X) is complete, the pair should either resume lower or at least pullback in 3 waves to correct the rally from 0.7214. We don’t like buying the pair, and expect the pair to resume lower from 0.742 – 0.747 area for 3 waves lower minimum as far as 0.785 pivot stays intact.

AUDUSD 6020150812212036

At EWF we offer  24 hour coverage of 42 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Trial to sample everything EWF has to offer!

Subscribe to our Forex Blog

First Name: *
Last Name: *
Your Email Address: *